Solid Biosciences (NASDAQ:SLDB) Upgraded to Strong-Buy at Citizens Jmp

Solid Biosciences (NASDAQ:SLDB - Get Free Report) was upgraded by Citizens Jmp to a "strong-buy" rating in a research note issued to investors on Tuesday,Zacks.com reports.

SLDB has been the topic of several other research reports. Chardan Capital reiterated a "buy" rating and set a $15.00 price target on shares of Solid Biosciences in a research report on Monday, November 11th. HC Wainwright reiterated a "buy" rating and issued a $16.00 price target on shares of Solid Biosciences in a research note on Thursday, November 7th. William Blair raised Solid Biosciences to a "strong-buy" rating in a report on Friday, August 30th. JPMorgan Chase & Co. reduced their price objective on Solid Biosciences from $15.00 to $12.00 and set an "overweight" rating on the stock in a research note on Tuesday, November 12th. Finally, Barclays decreased their target price on Solid Biosciences from $18.00 to $15.00 and set an "overweight" rating on the stock in a research report on Wednesday, August 14th. Eight equities research analysts have rated the stock with a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus target price of $15.13.

Solid Biosciences Stock Up 0.4 %

Shares of SLDB traded up $0.02 during mid-day trading on Tuesday, hitting $5.07. 153,022 shares of the company's stock were exchanged, compared to its average volume of 340,199. Solid Biosciences has a 52 week low of $3.80 and a 52 week high of $15.05. The stock's 50-day simple moving average is $5.79 and its 200-day simple moving average is $7.13. The firm has a market cap of $202.60 million, a price-to-earnings ratio of -1.66 and a beta of 2.01.

Solid Biosciences (NASDAQ:SLDB - Get Free Report) last issued its quarterly earnings results on Wednesday, November 6th. The company reported ($0.79) EPS for the quarter, missing analysts' consensus estimates of ($0.67) by ($0.12). Analysts forecast that Solid Biosciences will post -2.85 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, COO David T. Howton sold 5,072 shares of the business's stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $5.60, for a total value of $28,403.20. Following the sale, the chief operating officer now owns 15,663 shares of the company's stock, valued at $87,712.80. The trade was a 24.46 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Jessie Hanrahan sold 4,610 shares of the firm's stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $5.60, for a total value of $25,816.00. Following the transaction, the insider now directly owns 14,235 shares of the company's stock, valued at approximately $79,716. This represents a 24.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 23,719 shares of company stock valued at $135,457 in the last ninety days. 13.63% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Barclays PLC increased its position in shares of Solid Biosciences by 412.1% during the third quarter. Barclays PLC now owns 62,856 shares of the company's stock worth $439,000 after buying an additional 50,582 shares during the period. XTX Topco Ltd acquired a new stake in Solid Biosciences during the 3rd quarter worth about $121,000. Wellington Management Group LLP lifted its stake in shares of Solid Biosciences by 183.6% in the 3rd quarter. Wellington Management Group LLP now owns 119,804 shares of the company's stock valued at $835,000 after purchasing an additional 77,564 shares during the period. State Street Corp boosted its position in shares of Solid Biosciences by 9.2% during the 3rd quarter. State Street Corp now owns 441,540 shares of the company's stock valued at $3,078,000 after purchasing an additional 37,130 shares in the last quarter. Finally, Point72 Asset Management L.P. increased its holdings in Solid Biosciences by 292.8% in the third quarter. Point72 Asset Management L.P. now owns 443,010 shares of the company's stock worth $3,088,000 after purchasing an additional 330,234 shares in the last quarter. Institutional investors and hedge funds own 81.46% of the company's stock.

Solid Biosciences Company Profile

Solid Biosciences Inc, a life science company, develops therapies for neuromuscular and cardiac diseases in the United States. The company's lead product candidate is SGT-003, a gene transfer candidate for the treatment of Duchenne muscular dystrophy; and SGT-501 to treat Catecholaminergic polymorphic ventricular tachycardia.